says the person who sold it to you hasn't violated the law. >> that's not to say khuzami and company haven't been tough on wall street. the s.e.c. said since he took the job in 2009 more than 150 people have been charged and 2.6 billion dollars recovered include ago a record $550 million settlement with goldman sachs in a case all about disclosure in the financial crisis. >> as someone who's sat on both sideses of the table as general counsel on wall street and the director of enforcement here, is there truth to what people perceive that banks look at fines as a cost of doing business? >> in this case, no. this involves time and a expense in the investigation. shareholders demanding activity and may sue you. every justice department case is significant. >> a lot of people feel -- individual investors feel the game is rigged now. do they have a point. >> whether it's rigged that it's fraudulent, that's one question. if not, there needs to be greater transparency in order to give the public the faith that this is a level playing field and get them back on the market. >> that issue is o